TT Payment
Acronym for: Telegraphic Transfer
Direct bank wire transfer; most common payment method for solar module imports.
Detailed Explanation
TT (Telegraphic Transfer) is a standard bank-to-bank wire transfer, typically via SWIFT. In solar imports, TT payment structures are: (1) 30% TT deposit + 70% on sight of BL copy (mainstream for EU/US buyers); (2) 50% TT + 50% before shipment (emerging markets, new buyers); (3) 100% TT before shipment (frontier markets, small orders). TT is faster and cheaper than LC but offers less buyer protection if the seller is unknown. Always verify bank details via phone (not email) before sending large sums to prevent wire fraud.
Need help sourcing?
JUST SOLAR GROUP supplies solar modules globally with full documentation and flexible terms.
Related Terms
Incoterm where the seller delivers goods on board the vessel at the port of origin; buyer pays freight and insurance.
Incoterm where the seller pays cost, insurance and freight to the destination port; buyer handles customs clearance.
Incoterm where the seller handles all costs including duty, VAT, and final delivery; buyer does nothing.
Minimum quantity required to place an order; typically one 40HQ container (~430-460 kW) for Tier-1 factories.
OEM = factory makes your branded product; ODM = factory designs and builds based on your spec.